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The fund has $158,794,621 in total assets. If the fund’s annual losses stay the same, it would run out of money in seven years without these subsidies.
The fund lost $8,141,293 in investment income and other revenue in 2018. At the same time, it paid out $16,855,082 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.
Taxpayers added $9,696,910 to the fund’s revenue last year – an amount that has increased from $7,824,303 five years ago. Members contributed an additional $2,028,099 – $125,794 more than five years ago.
In all, subsidies amounted to $11,725,009 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$8,141,293 | $16,855,082 | -$24,996,375 |
| 2017 | $21,336,052 | $15,743,010 | $5,593,042 |
| 2016 | $8,513,054 | $14,746,219 | -$6,233,165 |
| 2015 | $253,462 | $20,874,822 | -$20,621,360 |
| 2014 | $5,307,681 | $13,651,755 | -$8,344,074 |
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